Bengaluru-based electric two-wheelers maker Ather Energy, has raised an investment of $35 Mn in its latest round of Series D funding, led by Flipkart cofounder Sachin Bansal’s who pitched in $23 Mn.Hero MotoCorp has also invested $12 Mn in the electric two-wheelers maker this round.
Ather Energy designs and sells electric two-wheeler vehicles for the Indian market.It operates Ather Grid, a EV charging network in Bengaluru and Chennai with plans to bring this to Ahmedabad, Coimbatore, Hyderabad, Kochi, Kolkata, Mumbai, NCR and Pune.
“Electric vehicles are here to stay and Ather Energy is playing a leading role in driving this change. Sachin has been part of our growth journey and this investment is a strong endorsement of the momentum we’ve built over these years. Post the successful launch of our new product line, we are now looking forward to delivering the vehicles and seeing them across all cities. The pandemic has changed the landscape of personal transport and we hope that with high-performance alternatives available people will choose electric vehicles for their daily commute,” said Tarun Mehta, cofounder & CEO, Ather Energy.